17th Dec 2015 10:50
LONDON (Alliance News) - Ultimate Sports Group PLC on Thursday said it has raised GBP200,000 through a placing of one million shares at a price of 20 pence each.
Shares in the company were down 10% at 25.05 pence Thursday morning. It will use the proceeds as working capital as it focuses on its growth strategy, and builds up its online sport coaching platform ultimateplayer.met.
"Following the successful launch of our sport-coaching platform, Ultimate Player, we are delighted that our shareholders continue to demonstrate their support as we focus on increasing the numbers of users. With technology leading the way in all fields of education, we recognise that sport is no exception and considering the very positive feedback we have had from parents and children alike, we believe that we are well placed to encourage, motivate and inspire the next generation of sport enthusiast and athletes," said Chief Executive Officer Geoffrey Simmonds in a statement.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
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